Our mortgage brokers are also commercial loan brokers at Smartline Rockingham. So, what’s the difference? A mortgage broker helps obtain home loans for residential properties. A commercial loan broker helps obtain commercial properties that are going to be used for business. At Smartline Rockingham, we can help you obtain both residential and commercial loans.

What You Provide the Broker

If a lender is going to help underwrite your business, you will need to provide evidence that your business is on solid footing. They will use the information you provide to assess your ability to make loan repayments. If they think you are too much of a risk, they will say no. The main thing they want to see is a solid business plan.

Business Plan

Whether you are just starting or have been in business and want to expand, a good business plan is essential. It needs to be good enough to convince lenders that you will be able to make repayments. They will want to see your current income, your expenditures, your net profit and projected future income.

Do Your Homework

You also need to ask yourself some serious questions about your business to determine how much you can comfortably borrow. Do you need all of the money up front or can it be broken into periodic loans such as when building a new home? What is your maximum amount you can afford for repayments? What is your LVR (Loan to Value Ratio)?

What assets can you provide for collateral? Do you have a guarantor for the loan? How much equity do you already have in the business? Are you willing to offer potential investors a piece of your business?

Call Smartline Rockingham

Talk to one of our commercial loan brokers at Smartline Rockingham. We have been in the area since 1999. We can look over your situation and figure out which lenders are the most likely to provide the terms and interest that are right for you.

To learn more, call (08) 9527 1800.